Key information:
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Early adopters to join Sky can double their Sky token rewards.
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Each MKR may be transformed to 24,000 SKY, whereas DAI is remodeled into USDS.
MakerDAO introduced its rebranding to the Sky Ecosystem, together with the arrival of a new DAI-like stablecoin, known as USDS. This change marks a new chapter within the DeFi ecosystem, introducing not solely a rebrand but in addition new functionalities and rewards.
As reported on the MakerDAO discussion board, with the initiative they search to strengthen the group’s place within the DeFi ecosystem, dealing with competitors and Adapting to altering market wantsThe transfer additionally seeks to simplify the person expertise and enhance adoption of its merchandise.
Rune Christensen, CEO and co-founder of Sky, highlighted in his introductory video the significance of this evolution as a step in the direction of better accessibility and performance for customers, emphasizing that “Sky represents a new horizon for decentralized finance.”
Early customers to join Sky can double their rewards in SKY tokens in the course of the first month after launch. As deliberate, customers will be capable of earn 10% of their rewards in SKY tokens. You will obtain 24,000 SKY tokens for each MKR token you commerce as soon as they’re up to date. This, in keeping with Sky, seeks to encourage early adoption of the brand new ecosystem.
In line with the transfer with MKR, Sky will launch its new stablecoin, USDS, with a 1:1 parity. This is a totally different asset than DAI, MakerDAO’s stablecoin. Users seeking to transfer to the brand new foreign money will be capable of make 1:1 transactions between DAI and USDS or vice versa.
According to Christensen, the usage of this cryptocurrency will probably be optionally available and Users will be capable of resolve whether or not or to not transfer to USDS. Regardless, they search to “improve stablecoin retention and usage” inside their ecosystem.
After September 18, Sky will introduce new options together with USDS financial savings charge enhancements and extra intuitive governance mechanisms for SKY holders. These enhancements search to extend effectivity and group participation in protocol decision-making.
Days in the past, CriptoNoticias additionally reported on a proposal being mentioned within the MakerDAO governance discussion board to launch new cryptocurrencies, anticipating a transfer in the direction of a broader and extra diversified ecosystem. These are two new tokens known as NewStable (NST) and NewGovToken (NGT).
